HEWB.TO vs. HLPR.TO

Last updated Jun 4, 2026

HEWB.TO (Global X Equal Weight Canadian Banks Index Corporate Class ETF) and HLPR.TO (Global X Laddered Canadian Preferred Share Index Corporate Class ETF) are both exchange-traded funds - HEWB.TO is a Canada Equities fund tracking the Solactive Equal Weight Canada Banks Index, while HLPR.TO is a Preferred Stock/Convertible Bonds fund tracking the Solactive Laddered Canadian Preferred Share Index. Both are passively managed. Over the past 5 years, HEWB.TO returned 18.20%/yr vs 7.17%/yr for HLPR.TO. At a 0.31 correlation, their price movements are largely independent. HEWB.TO charges 0.28%/yr vs 0.30%/yr for HLPR.TO.

Performance

HEWB.TO vs. HLPR.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) and Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEWB.TO achieves a 19.10% return, which is significantly higher than HLPR.TO's 6.39% return.

HEWB.TO

• 1D: -0.42%
• 1M: 5.52%
• YTD: 19.10%
• 6M: 24.68%
• 1Y: 59.97%
• 3Y*: 32.65%
• 5Y*: 18.20%
• 10Y*: —

HLPR.TO

• 1D: -0.22%
• 1M: 1.09%
• YTD: 6.39%
• 6M: 7.65%
• 1Y: 19.36%
• 3Y*: 19.73%
• 5Y*: 7.17%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HEWB.TO vs. HLPR.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HEWB.TO Global X Equal Weight Canadian Banks Index Corporate Class ETF	19.10%	43.48%	24.54%	11.00%	-10.46%	39.19%	4.74%	3.66%
HLPR.TO Global X Laddered Canadian Preferred Share Index Corporate Class ETF	6.39%	18.79%	28.13%	2.89%	-17.83%	23.17%	6.42%	0.15%

Correlation

The correlation between HEWB.TO and HLPR.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.31

The correlation between HEWB.TO and HLPR.TO shifts across timeframes, from 0.18 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

HEWB.TO vs. HLPR.TO - Sectors Allocation Comparison

Sectors	HEWB.TO	HLPR.TO
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	47.2%
Technology	-	-
Utilities	-	-

Return for Risk

HEWB.TO vs. HLPR.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEWB.TO

HEWB.TO Risk / Return Rank: 96
HEWB.TO Sharpe Ratio Rank: 97
HEWB.TO Sortino Ratio Rank: 97
HEWB.TO Omega Ratio Rank: 97
HEWB.TO Calmar Ratio Rank: 93
HEWB.TO Martin Ratio Rank: 95

HLPR.TO

HLPR.TO Risk / Return Rank: 97
HLPR.TO Sharpe Ratio Rank: 96
HLPR.TO Sortino Ratio Rank: 97
HLPR.TO Omega Ratio Rank: 98
HLPR.TO Calmar Ratio Rank: 95
HLPR.TO Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEWB.TO vs. HLPR.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) and Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HEWB.TO	HLPR.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.70	4.43	+0.27
Sortino ratio: Return per unit of downside risk	6.34	6.44	-0.09
Omega ratio: Gain probability vs. loss probability	1.87	2.03	-0.16
Calmar ratio: Return relative to maximum drawdown	6.72	7.82	-1.10
Martin ratio: Return relative to average drawdown	30.62	46.33	-15.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEWB.TO vs. HLPR.TO - Sharpe Ratio Comparison

The current HEWB.TO Sharpe Ratio is 4.70, which is comparable to the HLPR.TO Sharpe Ratio of 4.43. The chart below compares the historical Sharpe Ratios of HEWB.TO and HLPR.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HEWB.TO	HLPR.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.70	4.43	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.31	0.87	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.65	+0.25

Drawdowns

HEWB.TO vs. HLPR.TO - Drawdown Comparison

The maximum HEWB.TO drawdown since its inception was -39.43%, roughly equal to the maximum HLPR.TO drawdown of -38.96%. Use the drawdown chart below to compare losses from any high point for HEWB.TO and HLPR.TO.

Drawdown Indicators

	HEWB.TO	HLPR.TO	Difference
Max Drawdown Largest peak-to-trough decline	-39.43%	-38.96%	-0.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-2.49%	-6.48%
Max Drawdown (3Y) Largest decline over 3 years	-14.84%	-10.09%	-4.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.89%	-26.79%	+0.90%
Current Drawdown Current decline from peak	-1.98%	-0.36%	-1.62%
Average Drawdown Average peak-to-trough decline	-7.27%	-6.58%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.42%	+1.54%

Volatility

HEWB.TO vs. HLPR.TO - Volatility Comparison

Global X Equal Weight Canadian Banks Index Corporate Class ETF (HEWB.TO) has a higher volatility of 4.88% compared to Global X Laddered Canadian Preferred Share Index Corporate Class ETF (HLPR.TO) at 1.04%. This indicates that HEWB.TO's price experiences larger fluctuations and is considered to be riskier than HLPR.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEWB.TO	HLPR.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	1.04%	+3.84%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	2.71%	+8.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	4.39%	+8.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	8.32%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	13.08%	+6.21%

HEWB.TO vs. HLPR.TO - Expense Ratio Comparison

HEWB.TO has a 0.28% expense ratio, which is lower than HLPR.TO's 0.30% expense ratio.

Dividends

HEWB.TO vs. HLPR.TO - Dividend Comparison

Neither HEWB.TO nor HLPR.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HEWB.TO and HLPR.TO in my portfolio?

HEWB.TO and HLPR.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEWB.TO or HLPR.TO?

On fees, HEWB.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEWB.TO or HLPR.TO?

HEWB.TO is cheaper with a 0.28% expense ratio, compared with 0.30% for HLPR.TO.

What is the main difference between HEWB.TO and HLPR.TO?

HEWB.TO is categorized as Canada Equities, while HLPR.TO is Preferred Stock/Convertible Bonds. HEWB.TO tracks Solactive Equal Weight Canada Banks Index, while HLPR.TO tracks Solactive Laddered Canadian Preferred Share Index. Their fees differ too: 0.28% for HEWB.TO and 0.30% for HLPR.TO.